The digital revolution in India is poised to make the next decade a transformative period, often referred to as India’s “Digital Decade.” By 2026, India is expected to become a $5.4 trillion economy, with a significant portion of this growth being digitally driven. An estimated $1 trillion of this economic activity will be digitally enabled, highlighting the profound impact of digital technology across the country. This digital phenomenon is not limited to metropolitan or Tier I cities; it is spreading across Tier II and III cities, making it a truly ubiquitous movement.
Digital Ecosystem Expansion
The rise of the digital ecosystem is evident in the growth of internet users, social media engagement, and transactions on video platforms. This evolution is reflected in various metrics, from overall internet usage to the number of service and product transactors, showing significant increases over the years. Social media, in particular, has seen remarkable growth, with Meta platforms like Facebook, Instagram, and WhatsApp playing a central role. Meta has around 3.8 billion monthly active users globally, with India being a significant market.
This story is from the August-September 2024 edition of Retailer.
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This story is from the August-September 2024 edition of Retailer.
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